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Limited oil supplies worldwide, a result of the ongoing war in Iran, are having a major impact on gas prices across the U.S.<\/p>\n
As of March 30, the national average cost of gas had gone up by 2.4 cents per gallon week over week and by 97.9 cents per gallon in the past month, according to data from GasBuddy. Americans are now paying $3.95 per gallon for gas and $5.369 per gallon for diesel fuel. AAA data tells a similar story. The current AAA national average gas price is about $3.98 \u2014 a full $1.00 increase from a month ago.<\/p>\n
Those rising prices could continue upward in the coming weeks.<\/p>\n
\u201cThe situation remains highly volatile and unpredictable, but upward pressure on fuel prices is likely to persist as long as global oil supplies are constrained by the continued disruption in the Strait [of Hormuz],\u201d said Patrick De Haan, head of petroleum analysis at GasBuddy in the analysis. \u201cWe\u2019re likely to see the national average for gasoline push beyond the $4 per gallon mark, while diesel could approach $6 per gallon and potentially set new records if conditions fail to improve.\u201d<\/p>\n
You may not see lower fuel prices anytime soon, but you can take action to reduce the price you pay at the pump with a gas rewards credit card.<\/p>\n
A credit card with gas rewards can help you earn cash back or points on every fuel up. Today\u2019s top gas credit cards offer around a 3%-5% (or 3x-5x) return on your gas station spending. That may be a small amount on each purchase, but it can add up over time, especially while fuel prices are high.<\/p>\n
Make sure you look at the specifics of any rewards card that offers gas station spending as a bonus category. Some cards may limit bonus rewards to a certain maximum amount spent per month or per year, while other cards have unlimited rewards. Depending on how much your regular gas bill is, these caps could make a difference in how much you can earn.<\/p>\n
Don\u2019t forget the card\u2019s other rewards categories, too. Many credit cards with gas rewards are great everyday cards with rewards on common spending categories, like groceries, dining out, streaming services, and more. If you can find a card that helps you save on gas along with your other regular budget items, you can save even more over time.<\/p>\n
Finally, consider the card\u2019s annual fee. Many gas rewards cards (especially cash-back cards) have no annual fee, so every dollar you earn in rewards can help you save on gas station spending. But if your card does have an annual fee, you\u2019ll want to make sure you earn enough in rewards each year to offset the cost of the fee and more. Otherwise, it may not be worth paying for your rewards card.<\/p>\n
Read more: <\/em>What credit card is best for me? A guide to help you choose<\/em><\/p>\n One way to stack your savings at the pump is by joining a gas rewards program from your most frequented gas station chains.<\/p>\n For example, the Shell Fuel Rewards program offers cents off each gallon of gas you buy at a Shell station, depending on your status. As a Silver member, you\u2019ll get 3 cents off per gallon. That goes up to 5 cents per gallon when you reach Gold status and 10 cents with Platinum status. Your status increases as you complete fillups at Shell stations; make at least six fillups of at least 10 gallons within three months for Gold status and twelve fillups within three months for Platinum status.<\/p>\n Exxon Mobil Rewards+ is similar. You\u2019ll earn rewards on your purchases at Exxon Mobil \u2014 including 3 points per gallon of fuel you buy. You can redeem every 100 points you earn for $1 in savings. If you purchase 100 or more gallons of Synergy fuel within a calendar month, you can get Frequent Filler status and earn 1 extra point per gallon of fuel for the rest of the month and the following month (though you can earn this status each month).<\/p>\n Gas stations with rewards programs often have retail credit cards that you can use to increase the rewards you earn at the pump. But you can also maximize your rewards by participating in a rewards program while using your regular gas rewards credit card.<\/p>\n For example, let\u2019s say gas costs $4.00 per gallon, and your gas station loyalty program gives you a 10-cent discount at the pump. You need 12 gallons of gas to fill up your car. In total, you\u2019ll pay $46.80 at $3.90 per gallon, and save $1.20 in rewards.<\/p>\n On top of that, you use your rewards credit card with 3% cash back at gas stations. You\u2019ll earn about $1.40 in cash back on your $46.80 purchase. Together, that\u2019s $2.60 in savings on a single trip to the gas station.<\/p>\n With multiple trips per month, that can quickly add up to meaningful savings \u2014 especially as prices increase.<\/p>\n The best gas credit cards offer top rewards on spending at the pump. Here are some of our favorite options today.<\/p>\n Read more: <\/em>Best credit cards for gas<\/em><\/p>\n Annual fee<\/p>\n $0<\/p>\n<\/li>\n Welcome offer<\/p>\n Earn as high as $200 cash back after spending $2,000 within the first 6 months (welcome offers vary and you may not be eligible for an offer; cash back is received as Reward Dollars, redeemable for statement credit or at amazon.com checkout)<\/p>\n<\/li>\n Introductory Purchases APR<\/p>\n 0% on purchases for 15 months<\/p>\n<\/li>\n Ongoing Purchases APR<\/p>\n 19.49%-28.49% Variable<\/p>\n<\/li>\n Introductory Balance Transfer APR<\/p>\n 0% on balance transfers for 15 months<\/p>\n<\/li>\n Ongoing Balance Transfer APR<\/p>\n 19.49%-28.49% Variable<\/p>\n<\/li>\n<\/ul>\n Rewards rate<\/p>\n Why we like it:<\/strong> The Blue Cash Everyday Card has no annual fee and earns (among other bonus categories) up to 3% cash back on up to $6,000 in annual gas station spending. If you spend the max $6,000, that\u2019s a total of $180 in cash back at the gas pump. After that, you\u2019ll still earn 1% at gas stations.<\/p>\n Read our full review of the Blue Cash Everyday Card from Amex<\/em><\/strong><\/p>\n Annual fee<\/p>\n $0<\/p>\n<\/li>\n Welcome offer<\/p>\n Earn 20,000 bonus points after spending $1,000 within the first 3 months (worth a $200 cash redemption value)<\/p>\n<\/li>\n Introductory APR<\/p>\n 0% intro APR on purchases for the first 12 months, 18.49%, 24.49%, or 28.49% variable APR after<\/p>\n<\/li>\n Purchase APR<\/p>\n 18.49%, 24.49%, or 28.49% variable APR<\/p>\n<\/li>\n<\/ul>\n Rewards rate<\/p>\n Why we like it: <\/strong>Instead of cash back, the Wells Fargo Autograph Card earns points you can redeem for travel, gift cards, account credits, and more. You\u2019ll get 3x points across multiple bonus categories, including gas stations. There\u2019s no limit to the 3x bonus rewards, so you\u2019ll continue to earn that amount no matter how much you spend on gas throughout the year.<\/p>\n Read our full Wells Fargo Autograph Card review<\/em><\/strong><\/p>\n Annual fee<\/p>\n $95<\/p>\n<\/li>\n Welcome offer<\/p>\n Limited-time offer: Enjoy $250 to use on Capital One Travel in your first cardholder year, plus earn 75,000 bonus miles once you spend $4,000 on purchases within the first 3 months \u2014 that\u2019s equal to $1,000 in travel<\/p>\n<\/li>\n Purchase APR<\/p>\n 19.49% – 28.49% variable<\/p>\n<\/li>\n<\/ul>\n Rewards rate<\/p>\n Why we like it:<\/strong> The Capital One Venture is another travel rewards card. You can use the miles you earn on spending toward future travel, transfer them to Capital One travel partners, redeem them for statement credits, and more. This card doesn\u2019t have a specific gas rewards category, but you\u2019ll earn an unlimited 2x miles on every purchase you make, including gas. Unlike the others on our list, the Capital One Venture does have a $95 annual fee. Compare your spending to ensure you\u2019ll earn enough rewards each year to offset the cost and still maximize savings on gas and other purchases.<\/p>\n Read our full review of the Capital One Venture Rewards Credit Card<\/em><\/strong><\/p>\n Annual fee<\/p>\n $0<\/p>\n<\/li>\n Welcome offer<\/p>\n Earn $200 in cash back after spending $1,500 on purchases in the first 6 months (bonus offer will be fulfilled as 20,000 ThankYou\u00ae points, which can be redeemed for $200 cash back)<\/p>\n<\/li>\n Introductory APR<\/p>\n 0% intro APR on balance transfers for the first 18 months<\/p>\n<\/li>\n Purchase APR<\/p>\n See issuer site for current APR<\/p>\n<\/li>\n<\/ul>\n Rewards rate<\/p>\n Why we like it:<\/strong> The Citi Custom Cash Card works a bit differently than the other gas rewards cards on our list. For no annual fee, you can earn 5% cash back in your top eligible spending category each billing cycle. The 5% applies to the first $500 you spend in a month, then you\u2019ll earn 1% cash back. You don\u2019t need to worry about selecting categories each billing cycle \u2014 the rewards will automatically adjust based on your spending. If you spend enough on gas each month to make it your regular top category and max out the $500 bonus spending, you could earn a total of $300 cash back in bonus gas rewards each year.<\/p>\n Read our full Citi Custom Cash Card review<\/em><\/strong><\/p>\n Editorial Disclosure: The information in this article has not been reviewed or approved by any advertiser. All opinions belong solely to Yahoo Finance and are not those of any other entity. The details on financial products, including card rates and fees, are accurate as of the publish date. All products or services are presented without warranty. Check the bank\u2019s website for the most current information. This site doesn’t include all currently available offers. Credit score alone does not guarantee or imply approval for any financial product.<\/em><\/p>\n<\/p><\/div>\n\n
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